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Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
 * KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's state-run MMTC may re-issue a tender for 12.5 million tonnes of thermal coal after a complaint from a trader, MMTC Chairman Sanjiv Bhatra said on Tuesday.
"We are waiting for a response from the Commerce Ministry before we decide what to do. It's following complaints by a trader who made an offer into the tender but was disqualified," Bhatra told Reuters.
Indian trading company Knowledge Infrastructure Systems (KIS) has demanded an investigation into MMTC's coal procurement processes by India's Central Bureau of Investigation (CBI), KIS Chairman Rahul Bhandare said.
KIS has written to the CBI, to the Commerce Ministry and to the Prime Minister's office, he said.
In common with other traders, KIS argues that current terms for tenders by MMTC are restrictive and disadvantage smaller companies or those that do not have foreign partners. "I wrote to the prime minister and others. There was no level playing field and they had to take cognisance of it. We decided to take a moral stand on this issue," he said.
"They (MMTC) will have to do the tender again with more transparency and fairness," he added.
MMTC is India's state-run trading house responsible for buying commodities on behalf of other state entities. MMTC's Bhatra said the company simply imposed the rules of the buyers that it represents.
MMTC buys coal on behalf of state utilities including the largest, state-run National Thermal Power Corp. The tender, which closed on June 4, was issued on behalf of NTPC.
Any delays to coal procurement will exacerbate India's shortage of fuel for power generation, Bhatra said. "Stocks at the power plants are critically low. Coal is needed urgently." During the past four years almost all of MMTC's coal tenders have been awarded to traders Adani, a subsidiary of the Adani Group, rival Indian trading companies said.
Four trading companies offered into the disputed tender and three met the terms, including Adani, Bhatra said. KIS did not qualify, he said.
Bhandare denied KIS had been disqualified.
Adani was not immediately available for comment.
MORE NEEDED, TRADERS SAY
Some of MMTC's rules have been relaxed to encourage broader participation but more needs to be done, Indian traders said.
"When they re-tender with the new rules which are expected, this will open the doors," said one Indian trader who declined to be identified.
Saurabh Kirpal, a barrister representing KIS, said some clauses are particularly restrictive. "Given the nature and structure of the coal supply business in India, these clauses restrict competition only to Adani," he said.
For example, bidders must pay an Earnest Money Deposit of 2 percent of contract value if they have supplied over 10 million tonnes of coal in a year and 8 percent of value if they have supplied over 2 million tonnes.
"This makes bidding non-viable for smaller bidders. There is no discernible rationale for such a clause," Kirpal said.
Bidders must also have supplied over 2 million tonnes of coal to India.
Another clause of the tender states that MMTC will only pay a foreign principal for imported coal, requiring Indian bidders to have a joint venture in place.
Clarifications on these points were issued on May 30 just days ahead of the offer deadline of June 4, Kirpal said.
Other Indian traders who wanted to offer expressed frustration at the lack of time to make necessary arrangements for payment and what they saw as a sudden and unexpected change to the tender terms which prevented them from offering.
"These clauses were already in the terms of the tender. Nothing new was added, we merely issued clarification on request," MMTC's Bhatra said.
Source: Alibaba
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Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
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- Savvy Resources Ltd - HongKong
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- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
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- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
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- Goldman Sachs - Singapore
- Eastern Coal Council - USA
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- Minerals Council of Australia
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- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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- Georgia Ports Authority, United States
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- White Energy Company Limited
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- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
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- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
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- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
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- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
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- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
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- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
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- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- The University of Queensland
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- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
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- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
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- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
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- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Directorate Of Revenue Intelligence - India
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- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
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- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
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- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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- Australian Coal Association
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